S&P 500, Nasdaq touch records as stocks close higher on solid earnings

U.S. stocks rose Monday, with the S&P 500 and Nasdaq Composite each posting a record finish, after a firm round of corporate earnings offset concerns about the spread of the coronavirus. The Dow Jones Industrial Average DJIA, +0.60% added about 175 points or 0.6% to close near 29,277 while the S&P 500 SPX, +0.73% rose about 24 points or 0.7%, closing around 3,352. The Nasdaq Composite Index COMP, +1.13% jumped more than 1.1%, adding about 108 points to close near 9,628. Shares of Slack Technologies Inc. WORK, +15.44% surged more than 15% on a report that IBM would soon adopt its software, but trading was halted shortly before the closing bell. Shares of Restaurant Brands International Inc. QSR, +2.74% were up more than 2% on an earnings beat.

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